Two years ago rumors circulated about Sprint investing in Jay Z’s Tidal streaming service, initially Sprint denied that rumor, but today (Jan. 23) the cell phone giant is singing a different tune. Sprint has announced its purchase of a 33 percent stake in Tidal. The partnership will reportedly provide Sprint’s 45 million customers with “unlimited access” to exclusive artist content. Current Tidal users will see no changes to their service.

RELATED:
Prince’s Estate Claims Tidal Streamed His Catalog Illegally

“Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said in a press release Monday. “[Sprint CEO] Marcelo [Claure] understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”

RELATED: Apple Music Has No Plans Of Acquiring TIDAL

Billboard reports that the deal was for an estimated $200 million and that all of Tidal’s two dozen artist-owners will remain aboard. “Jay saw not only a business need, but a cultural one, and put his heart and grit into building Tidal into a world-class music streaming platform that is unrivaled in quality and content,” Claure said. “The passion and dedication that these artist-owners bring to fans will enable Sprint to offer new and existing customers access to exclusive content and entertainment experiences in a way no other service can.”

According to Sprint and Tidal’s joint press release, the fund—estimated by Billboard to boast an annual budget of $75 million—will give participating artists the “flexibility to create and share their work” with their audience.

About The Author Tatyana Jenene

Birds in the Trap Sing Aaron Hall.

comments (0)

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>